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My lease isn't up for 4 months but I just talked to my landlord about renewing my lease. We've been excellent tenants. We pay rent on time, have never been late, make no noise, keep the place really clean and I think we are ideal tenants.
Our complex is pretty big, it has about 200 units or so. There are over 20 units currently unoccupied. When I moved in I got a "special" of $100 off per month (probably because they couldn't rent for the price they wanted). Well, she told me that when my lease is nearing completion I can either sign a new lease or leave. The new lease will be $130 more than I'm paying now. $100 more since I was on a "special" and $30 more for increased prices to all units.
Why would any landlord do this to great tenants when they currently have over 10% of their complex unoccupied? They are willing to lose good tenants to make an extra $1300 or so over a year? If the place stays unoccupied ONE month, they will be losing money over us staying here.
why do workers expect cost of living increases even in years when business isnt so good and they see layoffs around them further jeopardizing the health of the company that they may like working for? ?
everyone wants to try to get ahead even if it backfires on them
Last edited by mathjak107; 11-22-2009 at 01:59 PM..
My lease isn't up for 4 months but I just talked to my landlord about renewing my lease. We've been excellent tenants. We pay rent on time, have never been late, make no noise, keep the place really clean and I think we are ideal tenants.
Our complex is pretty big, it has about 200 units or so. There are over 20 units currently unoccupied. When I moved in I got a "special" of $100 off per month (probably because they couldn't rent for the price they wanted). Well, she told me that when my lease is nearing completion I can either sign a new lease or leave. The new lease will be $130 more than I'm paying now. $100 more since I was on a "special" and $30 more for increased prices to all units.
Why would any landlord do this to great tenants when they currently have over 10% of their complex unoccupied? They are willing to lose good tenants to make an extra $1300 or so over a year? If the place stays unoccupied ONE month, they will be losing money over us staying here.
The economy is bad, and everything costs more now. If you have to move, you will be spending more than that $1300 to do so.
My lease isn't up for 4 months but I just talked to my landlord about renewing my lease. We've been excellent tenants. We pay rent on time, have never been late, make no noise, keep the place really clean and I think we are ideal tenants.
Our complex is pretty big, it has about 200 units or so. There are over 20 units currently unoccupied. When I moved in I got a "special" of $100 off per month (probably because they couldn't rent for the price they wanted). Well, she told me that when my lease is nearing completion I can either sign a new lease or leave. The new lease will be $130 more than I'm paying now. $100 more since I was on a "special" and $30 more for increased prices to all units.
Why would any landlord do this to great tenants when they currently have over 10% of their complex unoccupied? They are willing to lose good tenants to make an extra $1300 or so over a year? If the place stays unoccupied ONE month, they will be losing money over us staying here.
They are banking on the fact that you won't want to go through the hassles of moving. But the Uhaul is $19.99 and sixty cents a mile. So I'd move if I were you(if you can find a better deals).
Your $100.00 deal was probably only good for the first year..... Now it's time to pay the piper... I've seen signs saying $XXX.XX off on first years lease..
What is the market rate for similar units in your area? If your current rate is a real bargain, then I understand why the LL wants to increase the rent to a market rate. Although I agree that depending on what your total rent is, an additional $130 a month seems like a lot, especially in a development that is less than 100% occupied.
As for the vacancies - is this because there is a lot of turnover so that the units may be vacant for a few weeks to a month until ready for the next tenant, or are these long term vacancies where the units sit empty for months at a time? If this is the case, you may have some bargaining room.
Do you think you can find a apt as good as the one you're in for less then the $130.00 monthly increase ? Also what about the area & location ? Weigh all these before you make a decision. Moving shouldnt be expensive if you have help & rent a u haul truck. I hate moving & its been almost 11 yrs since my last move. Good-luck.
Your completely in the driver's seat... I think it's great the Landlord let you know in advance so you have time to think it over.
Is it worth moving is something only you can decide...
Many Landlords only give the statutory required notice...
Nothing lost if you counter saying you had planned on staying and appreciate the advance notice and have found a better deal at XYZ apartments in town.
Yes, I know I signed a 1 year lease for the bargain rate and the units are in fact going for 130 over what I pay now. However with a 10% unoccupied rate (many have been occupied over 3 months) I would like to think they would want to keep me. I have no problem leaving and the price is high for the area. It is really a nice place but I can find something similar for the same price I'm paying now if I move. I tried to negotiate but she (the manager) said the landlord said it's a "take it or leave it" deal. I guess I'll be leaving it in 4 months. I don't mind moving. Like I said, if the place sits unoccupied for 1 month they should have kept me at my current rate. Just seems like someone on their end doesn't understand the basics of business.
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